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The Greatest Triumph in Austrian Economics Since Hayek Won the Nobel Prize


Next week, the Nobel committee in Stockholm will reveal the winner(s) of the Nobel Prize in economics.

It reminds me of the celebration I attended last week at George Mason University, where more than 300 economists and political thinkers gathered to celebrate Friedrich Hayek’s winning of the Nobel Prize in economics in 1974.

The star-studded program, moderated by Peter Boettke, included a keynote address by Israel Kirzner and three Nobel laureates. One was Vernon Smith, who won the prize for his work in experimental economics. He is a professor at Chapman University in Orange, California, where I also teach as a Presidential Fellow. It is a great school to which to send your kids.

Read more about gross output and Hayek’s Austrian economics at Eagle Daily Investor.